The Phantom Wallet, a popular non-custodial wallet on Solana, recently put an end to rumors about a potential token launch. Many influencers had been speculating about an upcoming airdrop for users, but Phantom Wallet took to Crypto X to clarify that it has no plans to launch a token.
While acknowledging the excitement around the token idea, the wallet emphasized its focus on improving the user experience rather than creating its own token.
The update also aimed to clear up confusion surrounding the PHNT token, with Phantom Wallet directly stating, “we do not have any plans to launch a token.” Instead, the team is concentrating on enhancing social discovery, allowing users to more easily share and explore assets within the platform.
The news has sparked mixed reactions from the community. Some users expressed disappointment, while others appreciated the wallet’s transparency, viewing it as a step to protect users from potential scams.
This update follows similar security improvements from Trust Wallet and BNB Chain. Although Phantom Wallet’s decision might affect the Solana ecosystem by limiting new token-related growth, it hasn’t harmed the price of Solana’s native coin.
In fact, the price of SOL has risen by 5.05% in just 24 hours to $216.75, indicating that Phantom’s update hasn’t negatively impacted Solana’s market performance.
Also Read: Solana Co-Founder Sued Over Misuse of Ex-Wife’s SOL Tokens
